A MARKOVIAN REPLACEMENT MODEL WITH A GENERALIZATION TO INCLUDE STOCKING

reportActive / Technical Report | Accession Number: AD0660403 | Open PDF

Abstract:

The following model is considered A machine is inspected at the beginning of discrete time periods and its operating state condition is determined. After each inspection a decision upon whether or not to replace the machine at the end of the period must be made. It is shown that under certain conditions on the costs and the transition probabilities the optimal policy has a simple form. A generalization to the case where one is allowed to stock reserve machines is also given.

Author(s):
Ross, Sheldon M.
Author Organization(s):
STANFORD UNIV CA DEPT OF STATISTICS
Descriptive Note:
Technical rept.
Supplementary Note:
DOI: 10.21236/AD0660403
Pagination:
0033

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release
Distribution Statement:
Approved For Public Release; Distribution Is Unlimited.

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
TR-97
Contract/Grant Number(s):
NONR-225(53)
Project Number(s):
NR-042-002
Monitor Series:
ONR
 Subject Terms
Joint Capability Areas:
JCA_5_Command and Control; JCA_6.4.1_Secure Information Exchange; JCA_1.2_Force Preparation; JCA_1_Force Support; JCA_5.4_Decide; JCA_6.4_Information Assurance; JCA_6_Net Centric; JCA_5.2.2_Develop Knowledge and Situational Awareness; JCA_5.2_Understand
Communities of Interest:
No COI(s) Identified
Descriptor(s):
*MANAGEMENT PLANNING AND CONTROL, *MATHEMATICAL MODELS, *REPLACEMENT THEORY, COSTS, DECISION MAKING, INVENTORY CONTROL, OPTIMIZATION, STATISTICAL PROCESSES, THEOREMS
Field(s)/Group(s):
Administration and Management, Operations Research
Report Date:
1967 Sep 18